[recordsclerk]

Just in the last 60 days prices have dropped from the high 200’s to low 200’s. There are 2 shorts and 1 forclosure all below 245K. When these units close, you will see more people walk. I would say that by summer you will see a listing for 199K.

[recordsclerk]

Just in the last 60 days prices have dropped from the high 200’s to low 200’s. There are 2 shorts and 1 forclosure all below 245K. When these units close, you will see more people walk. I would say that by summer you will see a listing for 199K.

[recordsclerk]

I would suggest that we look at what has happened in other areas that have fallen further. Temecula has projects that are being finished at would appear to be below cost for the builder. Either they have to sell at a loss or they have already paid for the land/improvements and it is better for them to sell the land with built product then sell the land at a steep discount. If you can sell a 3000sqft home for $100sqft in Temecula and $150sqft in Chula Vista, then you can do the same in 4Sranch. 4S has been able to dodge the bullet longer then those other areas for now. There may be enough demand to the dodge the bullet even longer at the current prices as long as people keep the builders open for business. I see the builders continuing to reduce price in small increments at a slow pace until there is no demand at the pace. They will continue to match price with must sell inventory and other builders until the other one makes a move. These moves have been painfully slow up to this point and have been brutally frustrating for would be buyers.

[recordsclerk]

I would suggest that we look at what has happened in other areas that have fallen further. Temecula has projects that are being finished at would appear to be below cost for the builder. Either they have to sell at a loss or they have already paid for the land/improvements and it is better for them to sell the land with built product then sell the land at a steep discount. If you can sell a 3000sqft home for $100sqft in Temecula and $150sqft in Chula Vista, then you can do the same in 4Sranch. 4S has been able to dodge the bullet longer then those other areas for now. There may be enough demand to the dodge the bullet even longer at the current prices as long as people keep the builders open for business. I see the builders continuing to reduce price in small increments at a slow pace until there is no demand at the pace. They will continue to match price with must sell inventory and other builders until the other one makes a move. These moves have been painfully slow up to this point and have been brutally frustrating for would be buyers.

[recordsclerk]

I would suggest that we look at what has happened in other areas that have fallen further. Temecula has projects that are being finished at would appear to be below cost for the builder. Either they have to sell at a loss or they have already paid for the land/improvements and it is better for them to sell the land with built product then sell the land at a steep discount. If you can sell a 3000sqft home for $100sqft in Temecula and $150sqft in Chula Vista, then you can do the same in 4Sranch. 4S has been able to dodge the bullet longer then those other areas for now. There may be enough demand to the dodge the bullet even longer at the current prices as long as people keep the builders open for business. I see the builders continuing to reduce price in small increments at a slow pace until there is no demand at the pace. They will continue to match price with must sell inventory and other builders until the other one makes a move. These moves have been painfully slow up to this point and have been brutally frustrating for would be buyers.

[recordsclerk]

I would suggest that we look at what has happened in other areas that have fallen further. Temecula has projects that are being finished at would appear to be below cost for the builder. Either they have to sell at a loss or they have already paid for the land/improvements and it is better for them to sell the land with built product then sell the land at a steep discount. If you can sell a 3000sqft home for $100sqft in Temecula and $150sqft in Chula Vista, then you can do the same in 4Sranch. 4S has been able to dodge the bullet longer then those other areas for now. There may be enough demand to the dodge the bullet even longer at the current prices as long as people keep the builders open for business. I see the builders continuing to reduce price in small increments at a slow pace until there is no demand at the pace. They will continue to match price with must sell inventory and other builders until the other one makes a move. These moves have been painfully slow up to this point and have been brutally frustrating for would be buyers.

[recordsclerk]

I would suggest that we look at what has happened in other areas that have fallen further. Temecula has projects that are being finished at would appear to be below cost for the builder. Either they have to sell at a loss or they have already paid for the land/improvements and it is better for them to sell the land with built product then sell the land at a steep discount. If you can sell a 3000sqft home for $100sqft in Temecula and $150sqft in Chula Vista, then you can do the same in 4Sranch. 4S has been able to dodge the bullet longer then those other areas for now. There may be enough demand to the dodge the bullet even longer at the current prices as long as people keep the builders open for business. I see the builders continuing to reduce price in small increments at a slow pace until there is no demand at the pace. They will continue to match price with must sell inventory and other builders until the other one makes a move. These moves have been painfully slow up to this point and have been brutally frustrating for would be buyers.

[recordsclerk]

Try the Lee’s Garden Restuarant next door, it’s very good.

[recordsclerk]

Try the Lee’s Garden Restuarant next door, it’s very good.

[recordsclerk]

Try the Lee’s Garden Restuarant next door, it’s very good.

[recordsclerk]

Try the Lee’s Garden Restuarant next door, it’s very good.

[recordsclerk]

Try the Lee’s Garden Restuarant next door, it’s very good.

[recordsclerk]

I would have to agree that there are not going to be many move up buyers who bought at the peak. I know people that bought at/near peak with enough down that can sell a small profit, but refuse to sell until the market goes back up. They want to move up, but can’t stand selling at a loss. You can add 2002-2004 buyers to the list depending on where they bought. Some areas are already selling at or near 2001 levels. Without equity these buyers will not have a down payment. Historically move-up buyers put 10% or more down and stay for about 7 years while paying principal payments and enjoying the benefit of wage increases.

[recordsclerk]

I would have to agree that there are not going to be many move up buyers who bought at the peak. I know people that bought at/near peak with enough down that can sell a small profit, but refuse to sell until the market goes back up. They want to move up, but can’t stand selling at a loss. You can add 2002-2004 buyers to the list depending on where they bought. Some areas are already selling at or near 2001 levels. Without equity these buyers will not have a down payment. Historically move-up buyers put 10% or more down and stay for about 7 years while paying principal payments and enjoying the benefit of wage increases.

[recordsclerk]

I would have to agree that there are not going to be many move up buyers who bought at the peak. I know people that bought at/near peak with enough down that can sell a small profit, but refuse to sell until the market goes back up. They want to move up, but can’t stand selling at a loss. You can add 2002-2004 buyers to the list depending on where they bought. Some areas are already selling at or near 2001 levels. Without equity these buyers will not have a down payment. Historically move-up buyers put 10% or more down and stay for about 7 years while paying principal payments and enjoying the benefit of wage increases.

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